Symphony To Ramp Up India Operations, Pump In $100 M

Bangalore: | Updated: Nov 7 2003, 05:30am hrs
Symphony Services, promoted by Romesh Wadhwani, has chalked out an investment of $100 million over the next three years to beef up operations at its India technology centre located in Bangalore. Already, $50 million have been pumped into the centre, which has seen a 400 per cent growth over the last 12 months.

Addressing media persons, Symphony Services chairman, Dr Wadhwani, said the new centre, which currently houses 650 people, would employ close to 1,500 people within the next six months and is expected to touch the 2,500 people mark a year from now. The revenue from Symphony Services, the high-end product and business transformation services arm of the Symphony Technology Group stands at $100 million revenues and is expected to be $500 million in five years. The focus of the service business will be on high-end product development services in key technology ares like CRM (customer relationship management), analytics software, telecom, etc, he said.

Symphonys parent company, Symphony Technology Group, currently has five portfolio companies in its kitty and is expected to collectively touch the $1 billion mark this calendar year.